midcap index chart

Midcap index saw a good bounce today ,In my last post

had mentioned about support at 16000 levels .

Midcap index chart ,Lets see the present situation.

The index made a low near 16044 and today closed at 16470+ .The wave count suggests

3rd wave finished at 16044 and probably 4th up wave is on ,This count gets negated if 

17220 is taken out on upside .Lets see how the index behaves in coming days.

Edelweiss chart

Edelwiess stock has corrected more than 50% within a year.

Lets see the stock chart.

This is weekly chart,We have a impulse from top,Which is almost completed ,I am looking for 

a strong bounce in stock .

I am expecting 210 levels in medium term ,A good stock to accumulate here on.

Midcap index chart

Midcap index the correction keeps extending,

I had put a count before which got negated.

Lets see the present structure.

WXY correction on ,At present Y on in Y c wave is on the support levels are 16000

15800.

Eicher motors chart

Royal enfield promotor Eicher motor saw sales drop in 

dec qtr ,I dnt remember last when they witnessed drop in sales.

Lets see the stock chart.

The waves are well labled ,As long as 26200 is not breached we could have a impulse 

down from top ,Which is not good for the stocks bull pattern.

If waves get overlapped ie a breach of 26200 on upside this could well be a short term correction

in bull move ,Lets see how stock behaves.